THE TAX CREDIT IS GONE NOW WHAT?!?!

Oh no! The tax credit is gone, what's going to happen to us now if we didn't buy a house before the deadline?

Well, there's been no extension this time so I think the free money is gone for now. BUT, the interests rates are still at an all time low, home prices are awesome right now if you're in the market to buy and there's plenty to choose from. So don't worry that you didn't catch the bribe from the government to help stimulate the economy, it's still a perfect time to buy a home - even if you're doing it for the first time.

If you'd like more information contact me directly at 757-576-3444.

FORECLOSURE HOTLINE!!!!

Ever thought about buying a foreclosed property because you've seen the ads on TV and want to make millions of dollars in real estate? Call this easy 800# to get started. It's easy and free!!!

Just dial - 1-800-713-0329 X-7777

11 Great Reasons to List Your Home During the Holidays!

1. People who look for a home during the Holidays are more serious buyers!
2. Serious buyers have fewer houses to choose from during the Holidays and less
competition means more money for you!
3. Since the supply of listings will dramatically increase in January, there will be less
demand for your particular home! Less demand means less money for you!
4. Houses show better when decorated for the Holidays!
5. Buyers are more emotional during the Holidays, so they are more likely to pay your price!
6. Buyers have more time to look for a home during the Holidays during the weekday!
7. Some people must buy before the end of the year for tax reasons!
8. January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until Spring to buy, you must be on the market now to capture that market!
9. You can still be on the market, but you have the option to restrict showings during the six or seven days during the Holidays!
10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year!
11. By selling now, you may have an opportunity to be a non-contingent buyer during the Spring, when many more houses are on the market for less money! This will allow you to sell high and buy low!

The Experts have Spoken

My friend and lender, Amy House, sent me this information. I can't vouch for it, but if you want to talk to her about it her information is at the end of this blog.

By the way, she rocks as a lender!!!!!!!!!!!! Thanks Amy!


Reuters polled economists on the health of the housing market and their outlook. Check out the results...
1. When do you think a trough in U.S. housing prices will be reached?
9 said is already reached
9 said in less than 6 months
9 said in 6 to 12 months
1 said in 1 to 2 years
None said in more than 2 years

2. What is your forecast for the change in average house prices over the year?
(CASE-SHILLER 20 CITY)
The median of 22 forecasts was -13.0 percent in 2009.
The median of 22 forecasts was 2.9 percent in 2010.

(OFHEO/FHFA)

The median of 11 forecasts was -4.2 percent in 2009.
The median of 11 forecasts was 0.8 percent in 2010.

3. How much, in percentage terms, are U.S. house prices likely to fall before stabilizing:

The median of 25 forecasts was for a fall of 33.0 percent from the peak.
The median of 24 forecasts was for a fall of 0.5 percent from here.

4. Is a rebound in housing prices a prerequisite for a sustained economic recovery? YES/NO

13 said Yes
23 said No

5. On a scale of 1 to 10, where 1 is extremely undervalued, 5 is fairly valued and 10 is highly overvalued, what best describes average U.S. house prices relative to fundamentals?

The median of 38 forecasts was 5.
Forecasts ranged from 2 to 7
HOW WOULD YOU RESPOND TO THESE QUESTIONS?


Amy House
Senior Mortgage Consultant
New American Mortgage
4016 Raintree Rd Ste 20B
Chesapeake, VA 23321
Direct # 757-241-3461
Fax # 757-315-8171
Email: amy.house@newamerican.com
apply online at: www.newamerican.com/amy.house

Flooding!!!!

With all the rain, flooding and power outages, I'm not sure how many of you will be able to see this. But when all the water is gone, you're going to have to start cleaning up. Use your homeowner's insurance or your flood insurance policies to help. That's why you've got them. Most insurance companies are extremely helpful in these times. Here are a few numbers of the most common insurance companies:

Allstate - 1-800-255-7828
Nationwide - 1-888-669-6877
USAA - 1-800-531-8722
Farmers- 1-800-435-7764
State Farm - Good Luck with this one (spent 20 mintues on their website and did not find a number to call. Apparently, you have to know your agents name and call them directly) Website = www.statefarm.com

Good luck and stay dry!!!

Tax Credit Extended!!!!!!

Thank God congress got their heads out of their collective a**es and realized that the First Time Home Buyer Tax Credit was a good thing. They were also benevolent enough to allow existing homeowners to share in the booty by giving them some money too.

Check out this cool video from Keller Williams Realty to get all the latest and greatest.





And, if you need any assistance with buying, selling or investing in residential or commercial real estate in Southeast Virginia or the Outer Banks of North Carlina, don't hesitate to email me for more information.